Methven 
The residential rental market has surprisingly stayed strong over the past 6 months. We have been consistently letting around 12 properties per week with multiple applicants, giving owners their choice of tenants. We have continued to maintain a vacancy rate of less than 1% for over 2 years now, whereas the outer east’s average is 1.8%.
Whilst we haven’t seen much of an increase in rental values lately, values have remained consistent. Thankfully to date we have only had a small percentage of tenants seeking rental reductions due to financial hardship, hopefully this continues. It is still a good time to invest in residential property.
A this stage the new reforms of the Residential Tenancies Act are not being implemented until at least the 1st January 2021, and we will keep you updated as information becomes available.
Friday 24th July was National Property Managers day. This was the first year this day of recognition was introduced, as a way to show appreciation and recognition for all the hard work and dedication property managers of Australia give each day.
Property management has changed a lot over the years, but the past 6 months have by far been the most testing and demanding for all property managers. We thanked our team with flowers and wine and greatly appreciate each and every one of them.
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